Tuesday, May 5, 2020

Charles & Keith Enters Thailand-Free-Samples-Myassignmenthelp.com

Question: Disuss about the Marketing Strategy of Charles and Keith enters Thailand. Answer: Objectives: The objective of Charles Keith is to enter the market of Thailand, especially its political and fashion capital, Bangkok. The market of Thailand has a high demand for premium fashion accessories like shoes, bags and jewellery. The aim of Charles Keith is to target the upper class customers in the country and offer fashion products to cater to their fashion needs. Moreover, it would be able to promote its products at fashion shows and on fashion magazines in Thailand. This would enable the company to gain strong foothold in the Asian fashion market and earn robust profit (charleskeith.com, 2017). Target markets: The primary target market of Charles Keith would be the highly competitive market of Thailand. The fashion company particularly wishes to get a strong position in Bangkok, the fashion capital of the country which would enable to gain access to the upper class fashion loving customer segment. The market of Asia is experiencing increase in demand for fashion brands and already experiences presence of big brands like Zara, the Spanish fashion brand (Sabel Johansson, 2016). The secondary target market of Charles Keith consists of the important markets in Asia outside Thailand. Thailand is situated very close to the main fashion markets in Asia like China, Singapore, Malaysia and India. Thus, gaining a strong foothold in Thailand would allow the company to dominate these markets and earn huge revenue in these markets (Stremlau Tao, 2016). Market positioning: Charles Keith should position itself in the Thai market as the manufacturer and marketer of premium fashionable shoes, bags and accessories. The company should position itself as a manufacturer of wearable products made from environment friendly raw materials. Charles Keith must also position its products as fashion statements to attract the rich customers by participating in the prestigious fashion show in Asia like Bangkok Fashion Week. This would provide the designer to collaborate with the leading fashion designers from other fashion markets like India. This would allow Charles Keith establish itself as an Pan Asian designer with power to cater to the fashion needs of people of several countries simultaneously (Taplin, 2014). Market mix: The following is the marketing mix of Charles Keith is as follows: Product: The products of Charles Keith consist of shoes, bags and accessories. The product line does not contain apparel products and they do not cater to the men segments. This limits the opportunity of Charles Keith to compete with the international fashion brands like Zara who have strong presence in Asia including Thailand. Pricing: Charles Keith should use skimming pricing to establish itself as a premium fashion company. The per capita GDP of Thailand has risen above USD 5901 in 2016, which means that the people in Thailand have more disposable to buy premium accessories. This enables the brand to cater to more customers and earn higher profits (Gabrielli, Baghi Codeluppi, 2013). Place: Charles Keith has a strong physical and digital presence. The fashion maker has stores in all the important Asian markets like Thailand, Singapore and Taiwan. The store receives order online from all over the world and allows facilities like order tracking (Sabel Johansson, 2016). Promotion: Charles Keith promotes its products online on its official websites and on fashion magazines and newspapers. The fashion house also showcases its products at international fashion shows which helps it promote its premium collections (M. Taplin, 2014) References: Gabrielli, V., Baghi, I., Codeluppi, V. (2013). Consumption practices of fast fashion products: a consumer-based approach. Journal of Fashion Marketing and Management: An International Journal, 17(2), 206-224.Taplin, I. (2014). Who is to blame? A re-examination of fast fashion after the 2013 factory disaster in Bangladesh. critical perspectives on international business, 10(1/2), 72-83. MAN | ZARA India. (2017). Zara.com. Retrieved 19 November 2017, from https://www.zara.com/in/en/man-l534.html?v1=977068 Sabel, J., Johansson, U. (2016). Being Green and Global-: A qualitative study of sustainable Swedish fashion companies and their environmental work connected to internationalization. Shop Women's Shoes Online - Heels More | CHARLES KEITH. (2017). Charleskeith.com. Retrieved 19 November 2017, from https://www.charleskeith.com/in/shoes Stremlau, K., Tao, J. (2016). Green Supply Chain Management Enablers and Barriers in Textile Supply Chains: What factors enable or aggravate the implementation of a GSCM strategy for textile and fashion companies.

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